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Has anyone practised Q1 in Dec 2007 exam?
In part b, the answers says “Given that 18 days of cost of sales is unfunded…”, but I can’t find any clue in the question for this informantion. Can you please tell me if your understand this? Thanks a lot.yes you need to calculate the working capital cycle to estimate the no. of days unfunded:
-Inventory days:3.2/143.2 x 365 = 8d
-Receivable days:25.6/288.1 x 365 = 32d
-Payable days:8.8/143.2 x 365 = 22d
therefore working capital cycle = 8+32-22=18 days
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